Let's be real here, many early Baby Boomer parents (say up to 1980'ish) were terrible parents by humain standards. The had no idea how to raise kids and many had to actually fend for themselves on a daily basis. Yes the were good workers but they ate too much, drank too much and could care less about what their kids were up to.
The current problem is the off-spring of these parents have over-shot it the other direction. An overcompensation of involvement, interest and spending on the little angels.
Is it wrong? Time will tell. Is it hard to witness? Yes.